What is an IVA?
Tuesday, August 14, 2007
What is an IVA you ask? An IVA is an individual voluntary arrangement that can help you if you are in serious debt! Usually available for people who are over £15,000 in serious debt, who owe money to usually more than 4 creditors at once and who are in work and can afford the monthly repayments of an IVA.
An IVA is legally binding and a serious commitment as repayments for an individual voluntary arrangement can last as long as 6 years and defaulting on payment can result in the more final debt solution of bankruptcy!
With an IVA you can clear your debts without the stigma of bankruptcy and you do not have to tell anyone you do not want too that you are partaking in an IVA, it was designed as the alternative to bankruptcy and it certainly is that!
However before you take out an IVA or even think of taking out an IVA get some quality impartial debt advice on what your next move should be and remember you are not alone!
Debt Solution Options
Some people think that debt solutions are simply about saving money, budgeting and tightening the belt – in a way it is! However sometimes debt problems become to great and people find it increasingly hard to deal with their debts that appear to have spiralled out of control.
However you should always remember that there are options, for example if you have debts of over £15,000 you could be eligible for an IVA. An IVA (Individual voluntary arrangement) is a debt solution that is legally binding and is a serious commitment, however with an IVA you can be free from all your debts in as little as 6 years.
An IVA is a serious debt solution that involves 3rd parties (like an Insolvency practitioner) dealing with your creditors for you, so if you are contemplating getting one as a debt solution then you must seek professional debt advice before going any further!
An IVA is legally binding and a serious commitment as repayments for an individual voluntary arrangement can last as long as 6 years and defaulting on payment can result in the more final debt solution of bankruptcy!
With an IVA you can clear your debts without the stigma of bankruptcy and you do not have to tell anyone you do not want too that you are partaking in an IVA, it was designed as the alternative to bankruptcy and it certainly is that!
However before you take out an IVA or even think of taking out an IVA get some quality impartial debt advice on what your next move should be and remember you are not alone!
Debt Solution Options
Some people think that debt solutions are simply about saving money, budgeting and tightening the belt – in a way it is! However sometimes debt problems become to great and people find it increasingly hard to deal with their debts that appear to have spiralled out of control.
However you should always remember that there are options, for example if you have debts of over £15,000 you could be eligible for an IVA. An IVA (Individual voluntary arrangement) is a debt solution that is legally binding and is a serious commitment, however with an IVA you can be free from all your debts in as little as 6 years.
An IVA is a serious debt solution that involves 3rd parties (like an Insolvency practitioner) dealing with your creditors for you, so if you are contemplating getting one as a debt solution then you must seek professional debt advice before going any further!
Bad credit personal loan is designed for people who are suffering from a poor credit score and are lacking in funds to realize their personal desires. Bad credit implies because borrower did not pay his or her payment on time and conditions have not been honored by the borrower. Besides a bad credit may be imposed due to arrears, CCJ's, IVA's, bankruptcy etc. To find IVA unsecured loans, IVA secured loans, Benefit IVA, IVA London visit http://www.ivauk.me.uk